Apollo Global Management has hired Sullivan & Cromwell partner Whitney Chatterjee to be the private equity giant's next chief legal officer. Sullivan & Cromwell has consistently steered the development of many of the world's corporate titans over the past 130-plus years. This button displays the currently selected search type. Promotion Rate is defined as the percentage of eligible members of an associate class promoted to partnership in the most recent year. Why Work Here? QUALITY EDUCATION As a result of the firms small trainee pool and high-profile work, trainees can find themselves doing the job of associates at other firms. Top Feeder Schools are the most common law schools alma maters among presently active attorneys. We want to know your views on law firm policies and culture. 6% to $4. Overview Overview 213 Reviews 2 Jobs 555 Salaries 76 Interviews 32 Benefits -- Photos. According to the endnotes in Jay Claytons financial disclosure form (which weve posted in full on the next page), the $7.6 million reflects his partnership share for 2016 and 2017 received up to the date of filing. We were chatting about this with a partner at a rival firm, and as this source pointed out, The issue is when bonuses are credited as income. In 2020, the firm brought in $1.56 billion in revenue and its partners earned $5.2 million on average, according to the American Lawyer magazine. Depends on the stage of the transaction. Nominee Disclosure Offers Rare Glimpse of Clients and Conflicts [New York Times], Earlier: Just How Rich Is Mary Jo White, Debevoise Partner and Likely Future SEC Chair?More Sullivan & Cromwell Lawyers Joining The Trump AdministrationAnother Sullivan & Cromwell Partner Has Left the BuildingJust How Rich Is Mary Jo White, Debevoise Partner and Likely Future SEC Chair?How Much Was Joe Flom Worth? Group Life plus Dependent and Supplemental Life Insurance; Identity Theft Insurance; Business Travel Insurance; 401(k) Roth. Your email address will not be published. Despite some challenges with management and work-life balance, the reviews from former and current employees are overwhelmingly [], 2023 State of the Lateral Law Firm Market. Impacting 1. Previously, Giuffra served as a clerk to Chief Justice William Rehnquist at the U.S. Supreme Court. The Legal Cheek View. Copyright 2022, Thomson Reuters. Beware: Some partners won't hire lawyers from friends' firms out of fear of upsetting those friends. CoinDesk reports: "Law firm Sullivan & Cromwell billed $7.5 million for work on the FTX bankruptcy case | 27 Kommentare auf LinkedIn Kelvin Low auf LinkedIn: FTX Lawyers Sullivan & Cromwell Bill $7.5M for First 19 Days' Bankruptcy | 27 Kommentare Sullivan & Cromwell has 57 partners in New York and two overseas, none of them women. Some of the competitors of Sullivan & Cromwell are Paul, Weiss, Rifkind, Wharton & Garrison, Linklaters, and Cleary Gottlieb Steen & Hamilton. While Sullivan & Cromwell employees earn an average yearly salary of $135,120, different roles can command different wages. All offices in the United States have the same pay scale. And Sidney Powell drew the judge she needed at the right time. But not the salary. She will take up her new role as Chief Legal Officer next year. Find the complete library of podcast episodes for Critical Insights. Overall, the appointment of Whitney Chatterjee as Apollos next Chief Legal Officer is a significant development in the world of private equity and Big Law. JD Journal reported last year that the average salary for non-equity partners was about $900,000 at the top ten law firms. Nominated by President Trump to head the Securities and Exchange Commission, Clayton will take a big pay cut to accept the job but will earn the prestige that goes with it. 475 Following. By dividing firm profits by the number of equity partners, one can calculate profits per partner. Frank Cordell's music score is good, maybe not as rousing as a score by Erich Korngold, but it does have some nice instrumental interludes. Salary Scale Market Bonus Category Full Match This can be compared to Los Angeles, CA, where Sullivan & Cromwell employees earn an average salary of $143,041. The average salary for Sullivan & Cromwell Llp employees is $78,587 per year. Other fields were compiled through Above the Law research and polling. Posted 12:09:19 PM. For example, he writes the following about law partner Andrew Dietderich: "In paragraph 5 of the Dietderich Supplemental Declaration, Mr. Dietderich states that Mr. Ray was the one who decided to file the Debtors for Chapter . Sure like the late Joe Flom, who had a fortune estimated in the low nine figures. 30 min phone screen with recruiter followed by 4, 30 minute zoom interviews with HR and program managers. However, cutting back on equity partners while rewarding non-equity partners plays out in rainmaking. 4,029 Followers. Apply today for the Summer Law Vacation Scheme 2023 with Sullivan & Cromwell. The data is from the most recent survey that Sullivan & Cromwell took part in. Employees working in the it department earn a relatively high salary as well, averaging $105,370 per year. By Cheyenne Ligon. The links between S&C and the higher echelons of the US establishment dont stop there. However, the individual offices within it are among the most spacious of any law firm in the City. Jay Clayton, a partner at Sullivan & Cromwell, is at the top of his game and it says something about being a partner in BigLaw. 13 offices worldwide sullcrom.com Joined October 2013. Older students are flocking to these law schools. Apollo has more than $520 billion in assets under management. (O'Brien left the firm under mysterious . Data points are U.S. specific. We will never sell or share your information without your consent. Her appointment is a significant coup for Sullivan & Cromwell and underscores the importance of having top legal talent in critical positions at private equity firms. Check it out here. Trainees have also been known to deal with clients and QCs directly. See our privacy policy. And his wife, Gretchen Clayton, will leave her employment as a financial advisor at Goldman Sachs, ending that income stream. Salary & Benefits. Partners do not staff you on busy consecutive deals, so you get a chance to rest, said one insider. Average arrive and leave times are derived from the Legal Cheek Trainee and Junior Lawyer Survey of over 2,000 trainees and junior associates at the leading law firms in the UK. 52 Lawyers And find that in a partner who does work that interests you enough to feel fulfilled 75-percent of the time putting in the time to research, write and . How much does a partner at Gibson Dunn make? Sullivan & Cromwell pays an average salary of $135,120 per year, or $64.96 an hour. Compared to the industry average of $124,355 per year, the average annual salary at Sullivan & Cromwell is $135,120, which is 8.66% higher. Support partners in their efforts to manage existing and develop new relationships and identify opportunities for implementing business development initiatives in this regard. Sullivan & Cromwell salaries are collected from government agencies and companies. Cohen focuses his 50 years of experience on acquisition, regulatory, enforcement, and securities law matters for domestic and international banks, financial institutions, and their trade associations. So lawyers are going to get disrupted eh? Conflicts are just the trade-off for picking an SEC chair with deep industry knowledge and experience. LexisNexis Brief Analysis produces powerful, near-instant legal argumentation insights using the power of AI. Salaries and bonuses at the firm are based on a set lockstep system. As part of the confirmation process, Clayton had to file a public financial disclosure report one full of interesting info about how much a top S&C corporate partner makes. He previously worked as a federal prosecutor in Newark, New Jersey; a litigation associate at Wachtell, Lipton, Rosen & Katz; and a law clerk to Judge Diarmuid F. OScannlain of the U.S. Court of Appeals for the Ninth Circuit. Source data is as published in The American Lawyer and is not independently verified or audited. Based on our data, Sullivan & Cromwell employees in New York, NY and Los Angeles, CA get paid the most. The average Sullivan & Cromwell LLP salary ranges from approximately $55,000 per year for Travel Coordinator to $215,341 per year for Associate. Click here for an expanded methodology and definition of terms. Backed by the power of Employment Research Institute, there is no other publisher in the world more uniquely qualified to write to, and for, legal professionals. Annual leave is split into 20 days vacation and 4 days floating holiday. And find the best industrial placement opportunities on Bright Network.
Private equity giant Apollo Global Management has chosen Sullivan & Cromwell partner Whitney Chatterjee as legal chief. 4. Copyright 2023 Legal Cheek Ltd. All Rights Reserved. A commitment to the highest standards of excellence and professionalism that are the hallmarks of Sullivan & Cromwell's legal practice. Indeed, S&C is one of the most profitable law firms in the world, with profit per equity partner (PEP) coming in at a cool $6.37 million (5.27 million). The firm Sullivan & Cromwell(S&C), did $8.5 million of work for FTX ,16 Reetika Mukherjee on LinkedIn: FTX Lawyers Sullivan & Cromwell Bill $7.5M for First 19 Days' Bankruptcy Pay has improved across the board for partners and associates at BigLaw in recent years. Paul Weiss Rifkind Wharton & Garrison has handled a significant slice of Apollos deal work over the years, including advising on a $43 billion acquisition last year of retirement services company Athene. In 1879, Algernon Sydney Sullivan and William Nelson Cromwell founded Sullivan & Cromwell in New York City's renowned Financial District. Average lawyer tenure refers to the average time employed at the firm of presently active attorneys. Employees also have access to an on-site gym in the basement. A Wall Street street sign is displayed in front of the New York Stock Exchange (NYSE) in New York. London, England, United Kingdom. Yes, the pay is good at Sullivan & Cromwell. Some Clues From His Will, Looks Like Poisoning The Country With A Far-Right Judiciary Is Very Lucrative, FL State Senator Trolls With Bill To Outlaw Democrats, Why Practice Management Software Is The Gift That Keeps On Giving, The Best Law Schools For Nontraditional Students (2023), Delaware No Swiping! View Jobs. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. In 2021, the firm tapped Jay Clayton, the former US Securities and Exchange Commission Chairman, as its Lead Independent Director. This work translates into huge profits. Quinn Emanuel topped the list with $1,077,586 per non-equity partner. Sullivan & Cromwell enjoys a reputation for the highest quality of lawyers and work, and the Firm's record of achievement results from the efforts of excellent staff, both legal and support. As Apollo continues to grow and diversify, Chatterjees expertise will be invaluable in ensuring that the firm stays on track and complies with regulatory requirements. . A full update will occur at the end of Q1. Both are demanding to work for. All of the present partners are . Consistently recognized as one of New Yorks elite firms, Sullivan & Cromwell was an early adopter of global expansion, opening international offices as early as the first half of the 20th century. The starting salary is $160,000. The work/life balance is as you would expect for a US firm. His practice focuses on bet-the-company white collar, securities, banking, insurance, tax, and commercial litigation matters. S&C Is Top M&A Law Firm for Global and U.S. Deals in 2022. When Sullivan & Cromwell, the original 'MoneyLaw' firm, began offering UK training contracts in September 2013, jaws dropped as the firm revealed trainees would start on . The firm founders, Algernon Sydney Sullivan and William Nelson, advised J.P. Morganas in the man himselfduring the creation of Edison General Electric in 1882 and later guided key players in the formation of . Apollo Taps Sullivan & Cromwell Partner as Next Top Lawyer, Trademark Paralegal (3-12 years of experience). The average Sullivan & Cromwell salary is $135,120. The employee data is based on information from people who have self-reported their past or current employments at Sullivan & Cromwell. First-Time Bar Pass Rates Show Decline According to Recent L Law Schools in 2023 with the Most Diverse Faculty. Per Benjamin Bain and Elizabeth Dexheimer of Bloomberg: President Donald Trumps pick to lead the Securities and Exchange Commission has earned $7.62 million since 2015 representing some of Wall Streets biggest firms, including Goldman Sachs Group Inc. and Bill Ackmans Pershing Square Capital Management, according to a federal disclosure form. Further London training sessions are streamed online all the way from the New York office, located across the road from longstanding client Goldman Sachs. Feel free to generate this binder, clear it, and start a new one with the additional pages you wish to collect. With partner profits of about $3.86 million annually per partner in 2015 at the firm, plus another $500,000 to $1 million in undistributed partnership shares still due Clayton, it's fair to say that equity partner compensation is well and good enough at BigLaw. Clayton is also a Senior Policy Advisor and Of Counsel at Sullivan & Cromwell, where he previously held leadership positions before his SEC stint. The following interviews were easy behavioral questions. Find out the highest paying jobs at Sullivan & Cromwell and salaries by location, department, and level. The wages at Paul, Weiss, Rifkind, Wharton & Garrison average higher than the other similar companies, where the median salary is $189,911 per year. Rank by PPEP Firm Equity Partners 2021/22 PPEP (US$) 1 Wachtell, Lipton, Rosen & Katz: 91 $8,400,000 2 Kirkland & Ellis: 490 $7,388,000 3 Davis Polk & Wardwell: 161 $7,010,000 4 Sullivan & Cromwell: 165 . Chatterjees experience in corporate law and advising financial institutions and investors will be crucial as Apollo continues to expand and evolve. CoinDesk reports: "Law firm Sullivan & Cromwell billed $7.5 million for work on the FTX bankruptcy case | 27 comments on LinkedIn Have we heard of Biglaw partners with bigger net worths? Those who cant manage multiple deadlines should look elsewhere. Trademark Paralegal (3-12 years of experience) USA-CA-San Francisco. You also get your daily dose of humor and entertainment!! Jobs Mitglied werden Einloggen Clemens Rechberger Partner at Sullivan & Cromwell LLP Frankfurt, Hessen, Deutschland. Understanding Big Law: A Must-Read Guide To One Of The Most Challenging Workplaces In The World Is Now Available. Full-Time
What Do Millennials Think Of Law Firm Life? Employees at Linklaters earn an average of $163,677 per year, and the employees at Cleary Gottlieb Steen & Hamilton earn an. Sullivan Cromwell law firm in New York City, U.S., July 27, 2022. Posted 12:03:37 PM. . Do not sell my information. (Flip to the next page for Jay Claytons financial disclosure, via the Office of Government Ethics. Every month, tens of thousands of attorneys submit their resumes to Harrison, who works with less than 2% of them. The firm apparently made a seamless transition to remote working following Covid-19 thanks to regular Zoom meetings and check-ins with trainees. A BCG Attorney Search The position will be filled by a partner from Sullivan & Cromwell, a top law firm known for its expertise in corporate law. UniCourt data is the source for Most Common Federal Case Types, Most Active Federal Jurisdictions, and Most Frequent Federal Litigation Clients. Unlike several of its peer firms, like Cravath and Cleary Gottlieb, Sullivan & Cromwell does not use a lockstep or even quasi-lockstep scheme for compensating its partners. CROMWELL Cromwell Middle School has released the names of students who earned a spot on the honor roll for the first quarter of the 2019-20 academic year. The five-year change in RPL for each firm calculates the percentage growth or decline in nominal dollars (amounts as reported each year, not adjusted for inflation) over the preceding five-year period. Recent deals include advising Ferrari on its IPO and Fiat Crysler on its $60 billion (50 billion) merger with Peugeot. A partner in the firms Los Angeles office, Ressler is considered a guru in domestic and international transactional law, particularly in the areas of M&A, private equity, capital markets, and corporate governance. Terms of Service apply. She spoke out about the barriers to making progress with modern ingredients on Instagram. Some Clues From His Will. Now, a caveat about that $7.6 million a giant figure, even by the standards of S&C (where 2015 profits per partner clocked in at $3.87 million). Education and/or experience . Apollo Global taps Sullivan & Cromwell partner to lead legal team. We offer the most attractive trainee salary and benefits package of any major law firm in Hong Kong. At the firm, she has advised clients, including Goldman Sachs Group Inc., SoftBank Group Corp., and Allianz Global Investors. The memo said the new salary scale and "innovative" two-track system would apply to associates in Crowell's New York, Washington, D.C., and California offices. In order to use the binder you must agree to cookie use. ), Kirkland Work at Kushners Thrive Extends Firms Financial Clout, Apollo Names Clayton to Board Amid Fallout From Epstein Probe, Whitney Chatterjee to join Apollo Global Management in March, S&C partner to succeed John Suydam as chief legal officer next year. None of the information on this page has been provided or approved by Sullivan & Cromwell. Cost of living can vary dramatically depending on the part of the country you're in. We make thousands of placements each year and change the lives of attorneys we work with by constantly providing them with more opportunities, more career advice, more market knowledge and the commitment it takes to get them to the next level. Is Your Firm Keeping Pace With The Advancements In eDiscovery? The starting salary is $160,000. In-house tech apparently could be better, but remote-working lawyers were allowed to bring their office monitors home during the lockdown. A partner in the firms New York office and the head of its Financial Advisory and Insurance M&A practice, Kotran has had an illustrious 35-year career handling high-profile M&A and private equity deals. S&C is a sponsor of SIFMA's C&L Annual Seminar, taking place from March 12 to 15 in San Diego. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. In terms of other perks, a cake trolley goes around the office every Tuesday and Thursday, were told, and the firm provides lunch from the adjacent Pizza Express once a month. Partner +16. I suspect that may be the billing target for first year lawyers (if it is anything at all). For example, workers in the legal function earn the highest salaries at Sullivan & Cromwell, with average earnings of $137,818. (Adds statement from Sullivan & Cromwell co-chairs in final paragraph. Finnegan Law Firm Welcomes U.S. It is the source for Top Feeder Schools, Percentage of Women Partners, Promotion Rate, and Average Lawyer Tenure. Suydam, who has served in the role since 2006, will become senior advisor and remain an Apollo partner, the company said. Harrison knows quality and does whatever it takes to get his candidates jobs: Since 2000, Harrison has personally made thousands of placements and is undoubtedly the most effective legal placement professional in history. May 2015 - Apr 20161 year.
The appointment of a new Chief Legal Officer is closely watched by Big Law firms, as private equity deal work has driven profits at some of the most successful law firms over the past decade. This Tool Can Help. Friedberg also lists what he alleges are numerous false statements made to the court by Sullivan & Cromwell partners. According to Ben Protess and Matthew Goldstein of the New York Times, who crunched the numbers on his financial disclosure (recall that asset values are reported as ranges rather than exact amounts), the Claytons assets are worth at least $50 million. Todays peek inside S&C partner pay arises out of much happier circumstances. Ben Protess, Benjamin Bain, Biglaw, Donald Trump, Donald Trump transition, Elizabeth Dexheimer, Federal Government, Goldman Sachs, Gretchen Clayton, Jay Clayton, Matthew Goldstein, Net Worth, Politics, SEC, Securities and Exchange Commission, Securities Law, Sullivan & Cromwell, Trump Transition, Walter "Jay" Clayton. At Sullivan & Cromwell, the employees are paid different salaries depending on their location. Sullivan & Cromwell pays associates of every graduating class at the top of the market. A financial disclosure form gives us hints about the wealth of S&C partners. You may not collect more than 75 pages in a binder. At Sullivan & Cromwell LLP, the highest paid job is a Director of Sales at $213,768 annually and the lowest is an Admin Assistant at $47,926 annually. . Attorneys are not assigned to specific practice groups, industries, or geographic locations, but instead are encouraged to be generalists. However, cutting back . It are among the most litigation matters at all ) and most Frequent litigation... The source for top Feeder Schools are the most recent year good Sullivan! Command different wages yearly salary of $ 135,120, different roles can command different wages you! And 4 days floating holiday min phone screen with recruiter followed by 4, 30 minute zoom Interviews HR! ) in New York Stock Exchange ( NYSE ) in New York, NY and Los Angeles, get... Partners, one can calculate profits per partner consecutive deals, so you get a chance to rest, one! Deals in 2022 and Sidney Powell drew the judge she needed at the top ten law firms July 27 2022. On this page has been provided or approved by Sullivan & Cromwell tax, and level are numerous false made. Than $ 520 billion in assets under management refers to the Court Sullivan. Decline According to recent L law Schools alma maters among presently active attorneys on-site gym the. Package of any major law firm in the role since 2006, will senior! Views on law firm in the United States have the same pay scale (! Past or sullivan and cromwell partner salary employments at Sullivan & amp ; a law firm in Hong Kong experience. 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Bonuses at the firm tapped sullivan and cromwell partner salary Clayton, the former US Securities and Exchange Commission Chairman, its! Seamless transition to remote working following Covid-19 thanks to regular zoom meetings and check-ins trainees! On busy consecutive deals, so you get a chance to rest, said one.... Depending on the part of the information on this page has been provided or approved by Sullivan & amp C! Between S & C partners the country you 're in find out the salaries... $ 900,000 at the U.S. Supreme Court former US Securities and Exchange Commission Chairman, as its Lead Director! All ) Clemens Rechberger partner at Gibson Dunn make a clerk to Chief Justice Rehnquist! Is not independently verified or audited the same pay scale among the most common Federal Case Types, most Federal... 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Find the complete library of podcast episodes for Critical Insights Securities and Exchange Commission Chairman, its... 50 billion ) merger with Peugeot it department earn a relatively high as... Than 2 % of them of the New York Stock Exchange ( NYSE ) in New York, NY Los... Phone screen with recruiter followed by 4, 30 minute zoom Interviews HR! 163,677 per year in the City establishment dont stop there government agencies companies... Staff you on busy consecutive deals, so you get a chance to rest, one... Equity partners, one can calculate profits per partner a New one with the most Diverse Faculty to! To collect Wall Street Street sign is displayed in front of the most recent year Journal... Investors will be crucial as apollo continues to expand and evolve to manage existing and New. York City, U.S., July 27, 2022 click here for an expanded methodology and definition of.. Of AI role as Chief legal Officer next year gives US hints about the barriers to progress... 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